President Abdelmadjid Tebboune of Algeria announced on Friday that his country has officially requested membership in the BRICS group. In a discussion with China’s “CCTV”, Tebboune affirmed that the BRICS world would significantly assist them.
Algeria has formally applied to join BRICS and the BRICS Bank, contacting the previous Director of Brazil to be a part of the BRICS Bank contributors. Tebboune explained that his country’s initial contribution would be one and a half billion dollars to gain entry into the BRICS Bank.
Tebboune stated that Algeria is seeking to join the BRICS bloc, highlighting that the world is becoming increasingly bloc-oriented and that Algeria, along with the rest of the world, has confidence in China’s policy. He indicated that joining BRICS would open up new economic prospects for Algeria.
The Algerian president mentioned that they have been aspiring for a better and fairer world for a while now, reiterating his support for a multipolar world.
Earlier, Tebboune had stated in a media briefing that Algeria was nearing its membership in the BRICS bloc, asserting that the group’s nations would not object to granting Algeria full membership.
The BRICS group is a coalition that comprises Russia, China, Brazil, South Africa, and India. It was established in 2006, during a summit hosted by the Russian city of Yekaterinburg. The name changed from BRIC to BRICS in 2011 after South Africa joined the group. The international group aims to increase economic relationships amongst its members using local currencies, thereby reducing reliance on the US dollar.
